The global POS market size is anticipated to reach at USD 119 billion by 2025. Increasing business intelligence, internet of things, and innovative way of payment methods are the key drivers, which eventually contribute to the growth of point of sale terminal market.
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The point of sale terminals comprises of two components like hardware and software that makes daily business operation faster and easier. Recently both the hardware and software components are combined incoming products as new technology. It accepts NFC (Near field communication), EMV chip card and swiped card payments.
The point of sale is undergoing radical transformation as people are moving toward e-wallets and prefer payment through card instead of cash payment. Cash will be replaced by debit cards, and credit cards as the leading point of sale method by the next few years.
In January 2019 Toshiba global commerce solution (Multinational conglomerate company, JAPAN) had announced that they will be integrating its TCX 300 point of sale system at all the Massachusetts sites for grocery store chain Roche Bros by March 2019.
Key Segments of the Global POS terminal Market
Component Overview, 2018-2025 (USD Billion)
- Hardware
- Software
- Services
Technology Overview, 2018-2025 (USD Billion)
- Fixed
- Mobile
Type Overview, 2018-2025 (USD Billion)
- Counter-top
- Smart POS
- M-POS
- Integrated POS
Application Overview, 2018-2025 (USD Billion)
- Restaurants
- Hospitality
- Healthcare
- Retail
- Warehouse
- Entertainment
- Others
Regional Overview, 2018-2025 (USD Billion)
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
- Middle East and Africa
- UAE
- South Africa
- Rest of Middle East and Africa
- South America
- Brazil
- Rest of South America
Reasons for the study
- The purpose of the study is to give an exhaustive outlook of the global POS terminal market. Benchmark yourself against the rest of the market.
- Ensure you remain competitive as innovations by existing key players to boost the market.
What does the report include?
- The study on the global POS terminal market includes qualitative factors such as drivers, restraints, and opportunities
- The study covers the competitive landscape of existing/prospective players in the POS terminal industry and their strategic initiatives for the product development
- The study covers a qualitative and quantitative analysis of the market segmented based on product type, component, deployment, and application. Moreover, the study provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the above-mentioned segments.
Who should buy this report?
- This study is suitable for industry participants and stakeholders in the global POS terminal market. The report will benefit:
- Every stakeholder involved in the POS terminal market.
- Managers within the Tech companies looking to publish recent and forecasted statistics about the global POS terminal market.
- Government organizations, regulatory authorities, policymakers, and organizations looking for investments in trends of global POS terminal market.
- Analysts, researchers, educators, strategy managers, and academic institutions looking for insights into the market to determine future strategies.
POS system comprises both hardware and software together to work as a whole system, POS system running with software including receipt printer, barcode scanner & magnetic card reader. Point of sale (POS) terminal is highly boosting the market in the North America region. The developed economy of North America is participating in the high growth of point of sale terminal market and Asia-Pacific is the largest market for the point of sale terminal market.
New technological advancement and the internet of things contribute towards the growth of the point of sale terminal market. Point of sale equipment allows the owner to track the sales and helps in the collection of payment by using the POS system, Customer can track his revenue and profit. In recent times, the volume of cashless transactions has increased, giving rise to alternative options such as mobile e-wallets. Such options offer cashback, coupons, and discounts to pull younger customers. Furthermore, today at most of the retail stores, various barcode scanners are available to enable direct transactions via e-wallets. Therefore, consequently, the demand for POS terminals is expected to witness a minor downfall in the forthcoming years.
Cybercrime is one of the big issues with the POS system. By installing POS malware into the POS system, they can steal the data of customers while unencrypted time frame. However, biometric technology protects the POS system by providing a fingerprint scanner. By fingerprint biometrics, users cannot use the credential of others to login to the POS system. Hence, by security concern, the POS system is safe to use, furthermore it is anticipated to boost the point of sale terminal market.
Component Segment
The global point of sale market contains software, hardware, and services segments. The hardware segment of the POS component has a maximum revenue share within the global point of sale market in 2019. The use of hardware POS depends upon the places where it is being used. At the large retail or food stores, they prefer usually wireless and touch screen POS, for the better preference of customers as well as the merchant. However, small retailers use mobile POS (M-POS) because they are easy to use and also give rise to the overall point of sale market.
Technology Segment
Based on the product type segment, the market is segmented into fixed POS and mobile POS. The market for enterprises is mobile POS to possess the largest market share in 2019 since enterprises today are predominantly developing to match their user needs.
Mobile POS terminals (M-POS) is a profitable method of POS transaction mainly used by small and medium-sized industries and also participates as the highest contributor to the overall point of sale terminal. It is moveable POS that can be easily connected to smartphones or a tablet that can function as a register. Customers can do payment by easily swiping up the card or by directly through scanning via the merchant’s phone using NFC or Bluetooth. The factors which boost the market are an increase in smartphone users and new upcoming business methods such as mobile e-wallets and low-cost technologies, which is also contributing to the overall point of sale terminal market.
Type Segment
Based on the deployment segment, the market is bifurcated into counter-top, smart POS, M-POS, and integrated POS. Counter-top POS terminal is an inexpensive solution, which provides security, great performance, reliability and ease of use. Hence, they are the major contributor to the global point of sale market. The option for connectivity of these terminals comprises of IP (internet protocol) which require broadband connection connected through LAN (local area network) or WAN (wide area network), PSTN (public switched telephone network).which requires a telephone line and GPRS (general packet radio service) which require wireless network (SIM card). The counter-top POS terminal market has been anticipated to grow more than double by its presentable value till 2025.
Application Segment
Based on the application, the market is segmented into restaurants, hospitality, healthcare, retail, warehouse, entertainment, and others. The market for enterprises is anticipated to possess the largest market share in 2019 since enterprises today are predominantly developing to match their user needs. Point of Sale terminals help avoid human errors in the inventory management and financial billings and enable enhanced reliability to businesses. Hence, there is a significant growth in the demand for POS terminals in the SMBs. The healthcare domain is anticipated to grow at a substantial growth rate over the forecast period due to the increasing need for tracking employee statistics, managing a smooth payment process, as well as patient information.
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In the North, the America market is highly dominating because of its developed economy. North America is the biggest hub for global investors in point of sale terminal market. Continuously developing technology is boosting North America’s market. The U.S and Canadian customers are demanding for the latest technologies. In 2017, the unbanked share of Americans fell by 5%, so in this case debit card was the strongest preference with 34% of transactions done at the point of sale. Almost three-fourth volume is covered by point of sale in overall e-commerce volume. The credit card will be a highly preferable tool in case of point of sale terminal market.
Asia-Pacific region is the largest market for the point of sale terminal market as it is a developing region. China and India are developing economies of the Asia-Pacific region. It is the largest market due to the increasing population of youngsters and disposable income. New technology and the cashless transaction is highly accepted by the youth nowadays. Hence, it is expected to grow at 13% CAGR. In China adoption of e-wallets by the consumer is also at its high peak because of its highly developing economy and highest population. Hence, this would be the key driver for China's point of sale terminal market.
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The major players of the global POS terminal market are Ingenico Group, VeriFone Systems Inc., PAX Technology, Shenzhen Zhengtong Electronics Co Ltd, Fujian Newland Computer Co, Nexgo Inc., Cybernet Manufacturing, Inc., New POS Technology Limited, Panasonic Corporation Toshiba, and more. The POS terminal market is fragmented with the existence of well-known global and domestic players across the globe.